Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $9,969 and $10,187)	$ 10,297	$ 10,674
Short-term investments, at fair value	751	627
Other invested assets	103	94
Total investment portfolio	11,151	11,395
Cash	114	144
Premiums receivable, net of commissions payable	944	915
Ceded unearned premium reserve	122	119
Deferred acquisition costs	100	101
Salvage and subrogation recoverable	430	572
Financial guaranty variable interest entities’ assets, at fair value	651	700
Other assets	507	487
Total assets	14,019	14,433
Liabilities and shareholders’ equity
Unearned premium reserve	3,395	3,475
Loss and loss adjustment expense reserve	1,299	1,444
Long-term debt	1,281	1,292
Credit derivative liabilities	237	271
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	598	627
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	110	130
Other liabilities	315	355
Total liabilities	7,235	7,594
Commitments and contingencies (see Note 14)
Common stock ($0.01 par value, 500,000,000 shares authorized; 113,709,322 and 116,020,852 shares issued and outstanding)	1	1
Additional paid-in capital	466	573
Retained earnings	6,102	5,892
Accumulated other comprehensive income, net of tax of $51 and $89	214	372
Deferred equity compensation	1	1
Total shareholders’ equity	6,784	6,839
Total liabilities and shareholders’ equity	$ 14,019	$ 14,433